House Speaker Isabela 6th district Rep. Faustino "Bojie" Dy III and Majority Leader Ilocos Norte 1st district Rep. Sandro Marcos have jointly filed a bill that would turn President Marcos ' tax relief proposal for Filipinos into a reality. Filed on Tuesday, July 28 or a day after President...
Bicol Saro Party-list Rep. Terry Ridon says President Marcos must go all-out to make the country 's cherish upper middle-income economy status trickle down to common Filipinos as a tangible relief or benefit. Ridon posed this ahead of Marcos ' fifth and penultimate State of the Nation...
Senator Paolo “Bam” Aquino IV on Friday, July 24 pushed for the passage of the bill seeking to raise the annual income tax exemption threshold from P250,000 to P480,000. Aquino said this would increase the take-home pay of more Filipino workers and help them cope with the already high cost of...
The Department of Social Welfare and Development (DSWD) said it will begin distributing cash assistance under the government 's Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) program next week, with about 7.5 million poor, near-poor, and low-income households set to...
At long last, as of July 2026, the Philippines has attained Upper-Middle-Income status, as announced by the World Bank on July 1, 2026. This reclassification from Lower-Middle-Income to Upper-Middle-Income marks an important milestone in our efforts to eventually be considered a High-Income...
Banish the thought that the World Bank 's classification of the Philippines as an “upper-middle-income” economy is the silver bullet to slay the dragon of widespread poverty. It is a myth—not reality. Find out why. From 1987 to 2025—spanning almost four decades—the Republic of the...
While the Philippines’ graduation to upper-middle-income-country (UMIC) status is a nod to its economic progress, President Ferdinand R. Marcos Jr.’s chief economic manager said the milestone alone cannot do the heavy lifting needed for the country to achieve an ‘A’-level sovereign credit...
The Department of Trade and Industry (DTI) highlighted the country 's strong trade momentum and rising capital inflows as the primary engines behind the Philippines officially hitting Upper Middle-Income Country (UMIC) status. With Gross National Income (GNI) per capita breaching the critical...
Malacañang has stressed that the Philippines ' elevation to upper-middle-income country (UMIC) status does not mean economic difficulties have disappeared for ordinary Filipinos, with President Marcos vowing to continue government interventions for poor and vulnerable sectors. Speaking at a...
President Marcos is not worried about the downsides of the Philippines ' achievement of upper-middle-income status, as he is banking on increased investment. As the country moves up the classification ladder, it may gradually lose access to foreign grants intended for poorer economies. Marcos,...
House members sounded highly skeptical of the World Bank 's (WB) declaration that the Philippines has attained upper-middle-income status, as they noted most Filipino families continued to struggle financially. Caloocan City 2nd district Rep. Edgar "Egay" Erice says that the...
The Philippines ' achievement of upper middle-income status after nearly four decades validates the economic policies pursued by the administration and serves as a "vote of confidence" in the country 's future, President Marcos said. In a video message on Thursday, July 2, Marcos said...
